Oil Prices Tumble After Israel Agrees To Iran Ceasefire
Oil prices tumbled by nearly 5% on Tuesday after Israel agreed to a ceasefire with Iran after nearly two weeks of conflict.
Brent crude, the international benchmark for oil prices, fell to $68.87 a barrel, which is below $73 per barrel when Israel launched missiles against Iran’s nuclear sites on 13 June.
Prices had spiked in recent days as concerns grew that Iran could disrupt global supplies by blockading the Strait of Hormuz, a key shipping route for oil and gas.
Stock markets in the UK, Europe and Asia rose as US President Donald Trump declared the ceasefire “is now in effect”, after which Israel confirmed that it had agreed to the move.
Oil prices have soared to as much as $80 a barrel since the missile strikes began, stoking fears that the cost of living could increase as petrol, diesel and business expenses grew.
As of 12 noon Tuesday WTI was trading at $66.12 while Brent was trading at $68.87 per barrel.
“If the ceasefire is followed as announced, investors might expect the return to normalcy in oil,” said Priyanka Sachdeva, senior market analyst at Phillip Nova as carried by BBC.
But she added that “the extent to which Israel and Iran adhere to the recently announced ceasefire conditions will play a significant role in determining oil prices”.
The fall in prices narrowed as Israel claimed that Iran had violated the ceasefire after accusing Tehran of launching a missile strike.
The FTSE 100 index in the UK rose by 0.4% in early trading, while the CAC-40 in France increased by 1.4% and Germany’s Dax added 2%.
In Asia, Japan’s Nikkei share index ended the day up 1.1% and Hong Kong’s Hang Seng increased by 2.1%.
Trump urged Israel and Iran not to “violate” the ceasefire. Israel said it had agreed to it after “eliminating the Iranian nuclear threat”.
The Middle East conflict had pushed global energy prices higher, which if sustained would have a knock-on effect on energy bills and petrol prices.
Wholesale UK gas prices dropped by 12.5% on Tuesday after spiking higher. Qatar is a major supplier of liquefied natural gas, which is transported through the Strait of Hormuz.
On Monday, Iran had launched missiles at a US military base in Qatar in retaliation for American strikes against Iran’s nuclear sites.
The recent rises in oil prices had led to fears that increased energy costs could make everything – from petrol and food to holidays – more expensive around the world, including in the UK.
That is what happened after Russia invaded Ukraine three years ago, affecting people’s lives around the globe.
Source: https://energynewsafrica.com
Togo: WAPCo MD Holds Talks With Togolese Minister Of Mines And Energy Resources
The Managing Director of West African Gas Pipeline Company (WAPCo), Michelle Burkett, met with the Togolese Minister for Mines and Energy Resources, Hon. Robert Messa Koffi Eklo, to discuss crucial issues related to sustainable gas supply for electricity generation and industrial development in Togo.
The discussion also focused on the West African Gas Pipeline (WAGP) Fiscal Amendment.
The MD shared details about WAPCo’s planned subsea valve maintenance offshore Lomé, scheduled for 2026, assuring that only the Lomé Lateral would be affected and for a shorter duration than the February 2025 shutdown.
The Togolese Minister suggested aligning the maintenance with peak hydro power availability to minimize the impact on the population.
“At WAPCo, we value our partnerships across the WAGP States and remain committed to reliable service,” Michelle Burkett said.
“In 2023 and 2024, WAPCo transported more than double the contracted gas volumes to Togo, further reflecting our dedication to supporting the region’s energy goals.”
Michelle Burkett was accompanied by WAPCo’s General Counsel, Odey Simon Adamade, and External Relations Assistant (Togo), Gnimzoum Mawaba Kegbegnou.
Source: https://energynewsafrica.com
Ghana: Let’s Not Panic… There’s Two Months’ Fuel Reserve Against Global Shock – NPA Boss
Ghanaians have been assured of an adequate fuel reserve against global shocks amid escalating tensions between Israel and Iran, which has raised fuel supply concerns.
The Acting CEO of the National Petroleum Authority (NPA) gave assurance when he briefed the Parliamentary Select Committee on Energy on Saturday, stating that the country has about a two-month fuel reserve.
Currently, the country holds over 200 million liters of petrol and 150 million liters of diesel in reserve. “I can assure the good people of Ghana that we have enough stock to last us beyond two months, and with all the ongoing efforts, we are confident that there will be no supply disruptions,” he stated.
Mr. Tameklo further indicated that vessels carrying petroleum products were already within Ghanaian waters.
He added that Nigeria’s Dangote Refinery was producing substantial volumes of petrol and diesel, which would further support Ghana’s national demand.
Source: https://energynewsafrica.com
Trump Orders Oil Sector To Keep Prices Low After Strikes On Iran
President Donald Trump on Monday called on U.S. and global oil producers to keep crude prices from spiking, following coordinated airstrikes on Iran’s nuclear facilities. The strikes targeted key sites at Natanz, Isfahan, and Fordow, escalating tensions in the Gulf.
Trump posted on Truth Social: “EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!” He added: “DRILL, BABY, DRILL!!! And I mean NOW!!!”, framing energy as a national security issue amid fears of market instability.
Brent crude initially jumped more than 4% to breach $81 a barrel early Monday before settling near $76.90 as traders evaluated Iran’s response and continued tanker flow through the Strait of Hormuz, which handles roughly 20% of global oil shipments.
Despite Trump’s public appeal, there has been no major movement among U.S. producers to adjust supply. While Trump’s call echoed his first-term energy posture, most companies are focused on shareholder returns, not rapid output expansion. A Center for Strategic and International Studies (CSIS) analyst noted that producers “base decisions on long-term economics, not presidential tweets”.
The Financial Times reported that U.S. output is expected to peak this year before declining in 2026, citing reduced investment and higher capital discipline across shale basins. Energy Secretary Chris Wright, when asked for specifics, said only, “We’re on it.”
Goldman Sachs analysts warned that Brent could breach $100 if Iran retaliates by disrupting Hormuz traffic, though current flows remain stable.
As of 11:27 p.m. ET, Brent crude was priced at $76.24 per barrel, down 1% on the day, while WTI was trading at $73.07. All eyes now turn to Tehran’s next move, and whether U.S. producers hold the line or respond to market signals.
Source:oilprice.com
Uzbekistan Explores Large-Scale Nuclear Power Plant Option With Rosatom
Rosatom has signed an agreement with Uzbekistan’s Uzatom Atomic Energy Agency to explore the possibility of building a gigawatt-scale nuclear power plant featuring two or four VVER-1000 units.
This development builds on their existing project to construct a small modular reactor plant in the Jizzah region, which will feature six RITM-200N water-cooled reactors.
Rosatom Director General Alexei Likhachev said: “The Rosatom State Corporation is pleased to be a strategic partner of Uzbekistan in the development of nuclear energy, the combination of small and large-capacity nuclear power plants can form a powerful ‘carbon-free energy cluster’ in Uzbekistan and become a response to the country’s growing needs for electricity, as well as the basis for the development of industry and innovative industries in the country.”
Azim Akhmedkhadjaev, Director of the Atomic Energy Agency, said: “We consider the construction of a high-capacity NPP as a source for creating a reliable and balanced energy system capable of covering both the current and future needs of the country for electricity – environmentally friendly energy.
The signing of the agreement allows us to begin active development of the key conditions for the possibility of implementing the project for the construction of a high-capacity nuclear power plant.
A joint Working Group has been created that will study the main aspects of the project and assess the cost of construction.
Source: https://energynewsafrica.com
Zambia: ERB Approves 43 Licences And 6 Construction Permits For Energy Projects Worth $159 Million
Zambia’s Energy Regulation Board (ERB) has approved 43 licence applications and six construction permits across the petroleum, electricity, and renewable energy sub-sectors, with a total investment value of ZMW 3.9 billion (approximately US$159 million).
The 43 approved licences span a wide range of energy-related activities critical to strengthening Zambia’s energy value chain. These include the manufacture, supply, installation, and maintenance of renewable energy generating equipment; the distribution, import, and export of petroleum products and Liquefied Petroleum Gas (LPG); and the importation, blending, packaging, distribution, and export of lubricants. Additionally, ERB granted licences for electricity generation activities.
Among the six construction permits approved, two are for large-scale renewable energy projects.
Fitula Solar Company Limited received authorization to construct a 12 MWdc Solar Photovoltaic Power Plant in Chingola at an estimated cost of US$11.5 million. Garneton South Solar Limited will develop a 20 MWac Solar Photovoltaic Power Plant in Kitwe, representing an investment of US$22.9 million.
According to ERB, these undertakings are vital to enhancing energy availability, promoting the adoption of cleaner and more efficient technologies, and ensuring a reliable supply of energy products and services across the country.
Furthermore, the ERB has licensed 85 road tank vehicles to support the safe and efficient transportation of petroleum products and authorized six newly constructed service stations to begin operations.
These developments are integral to expanding energy access, improving safety standards, and enhancing service delivery nationwide.
The ERB remains committed to fostering a transparent, predictable, and supportive regulatory environment that encourages sustainable energy investments, aligned with the Government’s national development agenda and energy transition goals.
Source: https://energynewsafrica.com
Ghana: PIAC, Ghana Gas Forge Stronger Partnership For Sustainable Energy Development
The Public Interest and Accountability Committee (PIAC), an independent statutory body to promote transparency and accountability in petroleum revenue management, and Ghana National Gas Limited Company (Ghana Gas) have reaffirmed their commitment to collaborate in promoting transparency, efficiency, and sustainable development in the oil and gas sector.
To deepen the collaboration between the two institutions, a high-level delegation from PIAC, led by Chairperson Mr. Constantine Kudzedzi, paid a courtesy visit to Ghana Gas’s head office in Accra, where they met with CEO Ms. Judith Adjobah Blay and her deputies.
During the meeting, both parties emphasized the importance of continuous partnership in driving shared goals.
They recognized the need for collaboration to ensure the efficient management of Ghana’s energy resources.
Mr. Kudzedzi commended Ghana Gas for its consistent compliance with PIAC’s oversight requirements, particularly the timely submission of reports.
Ghana Gas has demonstrated its commitment to accountability and transparency in the energy sector.
Ms. Blay highlighted the company’s longstanding relationship with PIAC and reiterated its commitment to supporting the Committee’s oversight mandate.
The renewed commitment from Ghana Gas and PIAC is expected to yield positive outcomes for the energy sector, promoting sustainable development through collaborative efforts.
The meeting provided a platform for both parties to discuss critical energy sector issues and explore solutions.
By working together, PIAC and Ghana Gas can ensure a more efficient and effective management of Ghana’s energy resources, ultimately contributing to the country’s sustainable development.
Source: https://energynewsafrica.com
US Asks China To Stop Iran From Closing Strait Of Hormuz
United States Secretary of State Marco Rubio has called on China to prevent Iran from closing the Strait of Hormuz, one of the world’s most important shipping routes.
His appeal came after Iran’s state-run Press TV reported that parliament had approved a plan to close the Strait but added that the final decision lies with the Supreme National Security Council.
Any disruption to the supply of oil would have profound consequences for the economy.
China in particular is the world’s largest buyer of Iranian oil and has a close relationship with Tehran.
Oil prices rose following the US attack on Iranian nuclear sites, with the price of the benchmark Brent crude reaching its highest level in five months.
“I encourage the Chinese government in Beijing to call them [Iran] about that, because they heavily depend on the Straits of Hormuz for their oil,” Rubio had said in an interview with Fox News on Sunday.
“If they [close the Straits]… it will be economic suicide for them. And we retain options to deal with that, but other countries should be looking at that as well. It would hurt other countries’ economies a lot worse than ours.”
Around 20% of the world’s oil passes through the Strait of Hormuz, with major oil and gas producers in the Middle East using the waterway to transport energy from the region.
Any attempt to disrupt operations in the Strait could send global oil prices skyrocketing.
Oil prices jumped briefly when trading began on Monday, with Brent climbing to $81.40 a barrel. However, it then slid back to around $78, up 1.4% on the day.
“The US is now positioned with an overwhelming defence posture in the region to be prepared for any Iran counter-attacks. But the risk for oil prices is the situation could escalate severely further,” said Saul Kavonic, head of energy research at MST Financial.
The cost of crude oil affects everything from how much it costs to fill up your car to the price of food at the supermarket.
China in particular buys more oil from Iran than any other nation – with its imports from Iran surpassing 1.8 million barrels per day last month, according to data by ship tracking firm Vortexa.
Other major Asian economies, including India, Japan and South Korea, also rely heavily on crude oil that passes through the Strait.
Energy analyst Vandana Hari has said Iran has “little to gain and too much to lose” from closing the Strait.
“Iran risks turning its oil and gas producing neighbours in the Gulf into enemies and invoking the ire of its key market China by disrupting traffic in the Strait,” Ms Hari told BBC News.
The US joined the conflict between Iran and Israel over the weekend, with President Donald Trump saying Washington had “obliterated” Tehran’s key nuclear sites.
However, it is not clear how much damage the strikes inflicted, with the UN’s nuclear watchdog saying it was unable to assess the damage at the heavily fortified Fordo underground nuclear site. Iran has said there was only minor damage to Fordo.
Trump also warned Iran that it would face “far worse” future attacks if the country did not abandon its nuclear programme.
On Monday, Beijing said the US strikes had damaged Washington’s credibility and called for an immediate ceasefire.
China’s UN Ambassador Fu Cong said all parties should restrain “the impulse of force… and adding fuel to the fire”, according to a state-run CCTV report.
In an editorial, Beijing’s state newspaper Global Times also said US involvement in Iran “had further complicated and destabilised the Middle East situation” and that it was pushing the conflict to an “uncontrollable state”.
Source: BBC News
The US joined the conflict between Iran and Israel over the weekend, with President Donald Trump saying Washington had “obliterated” Tehran’s key nuclear sites.
However, it is not clear how much damage the strikes inflicted, with the UN’s nuclear watchdog saying it was unable to assess the damage at the heavily fortified Fordo underground nuclear site. Iran has said there was only minor damage to Fordo.
Trump also warned Iran that it would face “far worse” future attacks if the country did not abandon its nuclear programme.
On Monday, Beijing said the US strikes had damaged Washington’s credibility and called for an immediate ceasefire.
China’s UN Ambassador Fu Cong said all parties should restrain “the impulse of force… and adding fuel to the fire”, according to a state-run CCTV report.
In an editorial, Beijing’s state newspaper Global Times also said US involvement in Iran “had further complicated and destabilised the Middle East situation” and that it was pushing the conflict to an “uncontrollable state”.
Source: BBC News Ghana: Genser Energy Announces Several Employment Opportunities For Job Seekers
Genser Energy Ghana Limited (GEGL), a subsidiary of Genser Energy, is recruiting individuals to join its Ghana office, with diverse portfolios available for prospective job seekers.
The available positions include the following:
Communications Manager
- Community Relations Manager
- Environmental Associate Environmental Superintendent
- Health & Safety Manager
- Shift Charge Engineer
- Shift Charge Engineer
- Controls & Instrumentation (C&I) Reliability Superintendent
- Electrical Reliability Superintendent Electrical Reliability Superintendent
- Electrical Reliability Superintendent Shift Charge Engineer
- Controls & Instrumentation (C&I) Reliability Engineer
- Electrical Reliability Superintendent
- Mechanical Reliability Engineer
- Shift Charge Engineer – Cryogenic and Fractionation
- Shift Charge Engineer – Utilities
- Purchasing Associate (Corporate)
- Purchasing Associate (Operations)
- Senior Purchasing Associate (Corporate)
- Mechanical Reliability Engineer
- Shift Charge Engineer
Nigeria: NNPC Ltd Spokesperson Femi Soneye Resigns
Nigeria’s National Petroleum Corporation Ltd (NNPC Ltd) Spokesperson, Mr. Femi Soneye, has resigned after 20 months in the position.
Soneye announced his resignation in a statement on Saturday, extending his heartfelt gratitude to the media and all Nigerians for their support, professionalism, and genuine commitment.
Soneye stated that he “stepped aside” from the role as Chief Corporate Communications Officer of NNPC Ltd to devote more time to his family and attend to personal responsibilities that “now require my closer presence.”
“It has been a profound honor to serve both the Company and our country, and to contribute in my own way to the ongoing transformation of NNPC Ltd,” the statement reads.
“I am deeply grateful for the trust reposed in me, the opportunities granted, and the incredible professionals both within and outside the organization with whom I have worked.”
Soneye expressed his continued support for NNPC Ltd, stating, “I remain a steadfast supporter and ambassador of NNPC Ltd wherever I go. I enjoin you, dear colleagues, to continue your robust, balanced, and constructive reportage in support of the Company’s noble mission and strategic role in Nigeria’s energy future.”
It would be recalled that three months ago, President Bola Tinubu sacked Mele Kyari and replaced him with Bayo Ojulari as the Group Chief Managing Director (GCMD), while Ahmadu Musa Kida was named NNPC Ltd’s non-executive chairman.
Source: https://energynewsafrica.com
US Warplanes Strike Three Iranian Nuclear Sites
The United States of America has carried out a “very successful attack” on three nuclear sites on Iran, President Donald Trump has said, while Tehran has warned of “everlasting” consequences.
Bunker buster bombs were dropped on the heavily protected Fordow enrichment plant, which is buried deep under a mountain near the city of Qom, as well as sites at Natanz and Isfahan.
The dramatic escalation brings the US into direct involvement in the war between Israel and Iran. Tehran’s threat of reprisals raises fears of a wider regional conflict.
Iran’s foreign minister Abbas Araghchi warned that the US strikes “will have everlasting consequences”, adding that his country “reserves all options” to retaliate.
US defence secretary Pete Hegseth said America’s ‘Operation Midnight Hammer’ had “devastated the Iranian nuclear programme” but confirmed the strikes were “not about regime change”.
“The United States does not seek war, but let me be clear – we will act swiftly and decisively when our people, our partners, or our interests are threatened,” he said.
Iran has repeatedly denied that it is seeking a nuclear weapon, and the head of the UN’s nuclear watchdog said in June that it has no proof of a “systematic effort to move into a nuclear weapon”.
The Iranian foreign minister told journalists on Sunday morning that he was flying to Moscow to have “serious consultations” with Vladimir Putin.
He described Moscow as a “friend of Iran”, adding: “We always consult with each other.”
Iran’s Revolutionary Guard Corps (IRCG) said that “invaders must now await responses that will bring regret” after US strikes.
Iran has requested an emergency meeting of the UN Security Council to “maintain international peace and condemn the US strikes”, according to state media.
Israeli Prime Minister Benjamin Netanyahu hailed the “bold decision” by Mr Trump, saying it would “change history”.
Iran’s Revolutionary Guard said it launched 40 missiles at Israel on Sunday morning, including its biggest ballistic missile, the Khorramshahr-4.
Iranian missiles hit sites in northern and central Israel, including in Haifa, Ness Ziona, Rishon LeZion and Tel Aviv.
Zambia: Globeleq Signs Share Purchase Agreement With Norfund To Acquire Majority Stake In The Lunsemfwa Hydro Power Company
Globeleq, the leading independent power company in Africa, has signed a share purchase agreement with Norfund, the Norwegian development institution, for the proposed acquisition of a 51% equity stake in the Zambian entity, Lunsemfwa Hydro Power Company (LHPC), while the remaining 49% will be owned by Wanda Gorge Investments, a Zambia-based infrastructure investment company.
The remaining 49% of LHPC is owned by Wanda Gorge Investments, a Zambian based infrastructure Investment Company.
LHPC operates two hydroelectric power plants totaling 56MW and is constructing a 20MW solar PV project.
Based in Kabwe in Zambia’s Central Province, LHPC sells power to the Zambia Electricity Supply Corporation through a power purchase agreement and a portfolio of private customers, which include Copperbelt Energy Corporation and Jubilee Metals.
It also holds a Southern African Power Pool (SAPP) electricity trading license.
This agreement marks a pivotal step for Globeleq’s Zambian energy market entry where Globeleq can provide solutions to a range of public and private energy intensive consumers.
This acquisition also represents the company’s first investment in hydropower in Africa, further enhancing its diversified renewable portfolio which includes solar, wind, battery energy storage (BESS), hybrid solar plus BESS, and geothermal power plants.
Zambia is a priority country for Globeleq’s growth strategy where the company is leading the development of a 400MW+ greenfield portfolio of solar, wind power, BESS and hybrid projects, including its 54MWp Kafue solar project awarded under the GETFiT Zambia programme.
The completion of the transaction is expected to be finalised in the second half of 2025.
Jonathan Hoffman, Globeleq’s CEO commented: “We are excited about this opportunity to enter the Zambian market. LHPC’s established team, operations and trading capabilities combined with our extensive experience in Africa, create a strong platform to support Zambia’s broader energy objectives and deliver solutions to a range of energy consumers in the region.”
Øystein Øyehaug, Investment Director at Norfund added: “In seeking a partner for this transition, our priority was to find the right investor—one with the capability to manage well, enhance operational performance, elevate standards, and unlock the long-term growth potential of LHPC. With more than 20 years of experience operating in Africa, we are confident that Globeleq is the right fit to lead the LHPC into its next chapter.”
Source: https://energynewsafrica.com
Uganda: Petroleum Authority Appoints Steven Enach As Midstream Director
The Petroleum Authority of Uganda (PAU) has appointed Mr. Steven Enach as the new Director for Midstream, a key leadership position overseeing regulation and development of Uganda’s critical oil and gas infrastructure, including refinery and pipeline systems.
This was contained in a statement issued last Wednesday, June 18, 2025.
He brings over 15 years of experience in Uganda’s oil and gas sector to the role.
A seasoned petroleum scientist and business executive, he has a distinguished career marked by technical expertise and strategic leadership in midstream operations.
Mr. Enach holds a Bachelor of Science in Technology (Chemistry) from Kyambogo University and a Master of Science in Refinery Design and Operations from the University of Manchester in the United Kingdom.
Enach began his career in public service in 2009, serving at the Ministry of Energy and Mineral Development (MEMD) as a Petroleum Geochemist and later as Head of the Chemical and Process Section. He joined the Petroleum Authority in 2018 as Manager for Refining and Gas Processing, where he has spearheaded regulation of midstream activities.
His recent work included participation in government negotiations with Alpha MBM Investments of the UAE, which culminated in the March 2025 signing of the refinery implementation agreement.
The Petroleum Authority of Uganda said Mr. Enach’s promotion reflects the institution’s drive to uphold technical excellence and foster sustainable development in Uganda’s petroleum value chain.
Source: https://energynewsafrica.com
South Africa: Energy Security Is Government’s Priority – Graham-Maré
South Africa’s Deputy Minister for Electricity and Energy, Samantha Graham-Maré, has stated that electricity generation to deal with load shedding is the government’s priority.
“Our first priority in South Africa is energy security, and beyond that, we can start to have conversations, and we are quite prepared to make sure that everything we do corresponds to our commitments to climate change.”
Graham-Maré made these remarks during an interview with SABC News on the sidelines of the Africa Energy Forum in Cape Town. She emphasized the need to balance energy security with climate change commitments.
“We have seen a lot of lives lost during the flooding in the Eastern Cape. We can’t afford climate shocks as well, but we have to make sure that everything we do is done with South Africa in mind, we have to make sure we take our people along with us.”
The Deputy Minister added that any move towards decarbonization should not result in job losses but rather generate new jobs and uplift the people.
“We have to make sure that any move in terms of decarbonisation doesn’t result in job losses but in fact we actually generate new jobs-uplifting our people and building an economy on the back of a strong economy.”
According to Prof. Mark Swilling, Co-director of the Centre for Sustainability Transitions (CST), the development of energy transmission infrastructure in the country is expected to cost around R400 billion over the next 10 years.
“The special development plan which makes provisions for 14,400 km of new lines plus sub-stations over the next 10 years will cost about R400 billion. It’s the biggest infrastructure project since 1994.”
Swilling noted that the energy transmission projects will be public-private partnership programs and will be financed by both sectors.
“The government equity injection to Eskom has helped to do that, but the national transmission company needs to be able to borrow more, but also bring in the private sector into the component of the infrastructure built programme.”
Source: https://energynewsafrica.com